DLS 0.00% 69.0¢ drillsearch energy limited

Shooting new seismic

  1. 1,317 Posts.
    Drillsearch Energy announced today that it is shooting new 2D seismic over its permits in the Southern Bonaparte Gulf. This tells me the company is getting serious about drilling in this highly prospective area (remember Woodside drilled Blacktip in an adjacent permit). Ann also indicated that the company was in discussions with potential farminees. It wouldn't surprise me if Woodside was among them as speculated by one industry news bulletin recently. If WPL joined the fray the market might really sit up and take notice. DLS has been a bit of a dog for years but with its Canadian operations now providing a good cash flow from gas with more to come, oil revenues from the Cooper/Eromanga properties (and the potential for more) and the prospect of huge deposits in the Bonparte leases (check the numbers in the press release) DLS is due for a rerating. I bought some more yesterday. JBC
 
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